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Saudi trade surplus with China down 64% in 2020

Saudi trade surplus with China down 64% in 2020
The kingdom’s trade exchange with China came in at $67.13 billion in 2020.

Riyadh – Mubasher: Saudi Arabia’s trade surplus with China amounted to $10.93 billion in 2020.

This represents a plunge of 63.9% when compared to a surplus of $30.33 billion in 2019, according to data collected by Mubasher based on figures from China Customs.

Moreover, the kingdom’s trade exchange with China came in at $67.13 billion in 2020, down by 14% from $78.04 billion a year earlier, impacted by lower exports to the Asian state by 27.96% yearly at $39.03 billion.

On the other hand, Saudi imports from China rose by 17.8% annually in 2020 to stand at $28.1 billion.

In December 2020, the Gulf country’s trade surplus with China totalled $6.2 billion, an annual decrease of 12.6%.